Business Standard

Cotton sector pins hopes on stable demand-supply situation in new season

Yarn makers, though, complain of sharp drop in demand and growing stockpiles

The pink bollworm has been damaging Maharashtra's cotton crop since the last two years.

At present, prices of the Shankar-6 cotton variety for the new season are reportedly trading at Rs 73,000-75,000 per candy at the spot markets of Gujarat

Sanjeeb MukherjeeShine Jacob New Delhi/Chennai
The Indian cotton sector is hoping for relatively better supply and stable prices in the coming season, which starts from October 1, after a difficult year.

According to industry players, the yarn segment has been reeling from the impact of low demand, high cotton prices, and growing stockpiles, over the past few months.

Demand, especially, has taken a hit because of the ongoing war in Ukraine, which has affected demand from Europe, while the economic slowdown in the US and other developed countries has also been a setback.

On the supply side, the first advanced estimate has offered some hope.

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First Published: Sep 30 2022 | 9:24 AM IST

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